Vitruvian Exploration has raised $130 million through a private offering of notes, due in 2015. The senior secured notes, which will bear interest at a rate of 12%, are secured by assets securing Vitruvian’s amended revolving credit facility.

The independent oil and gas company will use the proceeds to repay all of the existing indebtedness under its amended loan. The proceeds will also be used to finance a part of planned capital expenditures for lease acquisitions and drilling in 2011 and 2012 as well as for general corporate purposes.

Click here for the release from Live-PR.com.